Exhibit 12.1
Statement of computation of ratios of earnings to combined fixed charges and preferred stock dividends
Year Ended December 31, | ||||||||||||||||
2010 | 2009 | 2008 | 2007 | |||||||||||||
Fixed charges (1) | $ | 95,923 | $ | 96,267 | $ | 104,481 | $ | 5,332 | ||||||||
Preferred stock dividends (2) | — | — | — | — | ||||||||||||
Combined fixed charges and preferred stock dividends | $ | 95,923 | $ | 96,267 | $ | 104,481 | $ | 5,332 | ||||||||
Fixed charges | $ | 95,923 | $ | 96,267 | $ | 104,481 | $ | 5,332 | ||||||||
Net income | 169,500 | 174,400 | 79,129 | 1,248 | ||||||||||||
$ | 265,423 | $ | 270,667 | $ | 183,610 | $ | 6,580 | |||||||||
Ratio of earnings to combined fixed charges and preferred stock dividends | 2.77 | 2.81 | 1.76 | 1.23 | ||||||||||||
(1) | Fixed charges consist of interest expense on all indebtedness. |
(2) | No preferred stock was outstanding during these periods. |